Besides Azad, the other contestants are PDP's Mir Mohammad Fayaz and Nazir Ahmad Laway; BJP's Shamsher Singh and Chander Mohan Sharma; and Sajjad Ahmad Kichloo and Nasir Aslam Wani of NC.
Both BJP-PDP and NC-Congress are fighting the elections under seat sharing arrangements.
PDP, with 28 seats, is the single-largest party in the state Assembly, which is currently in suspended animation, while BJP has 25 seats in the 87-member house.
Azad is believed to have met Independent members -- former minister Hakeem Mohammad Yaseen and Engineer Rashid Ahmed in Srinagar on Tuesday but the duo had not opened their cards.
"The elections to elect four members to the Council of States (Rajya Sabha) by the members of Jammu and Kashmir Legislative Assembly will be held on February 7 at J&K Legislative Assembly Secretariat lobby in Jammu from 9 am to 4 pm," according to the notification issued by Returning Officer M Ramzan.
"The importance of Yaseen and Rashid has increased for the victory of joint candidates of BJP-PDP and Congress-NC," a senior Congress leader said and claimed Azad will win.
Terming the alliance between BJP and PDP as "opportunist", CPI(M) said it has decided to vote against the parties.
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